Reference is made to the Stock Exchange release on 08.03.18 regarding sale of vessels. The vessels are delivered to new owner.
The company received on 19th March 2018 exercise notices for 1,567,376 subscription rights related to remaining debt after sale of the vessels. At the same time the company received exercise notice from Havila Holding AS for subscription of 1,682,802 shares by conversion of part of convertible loan (Anti Dilution Protection Loan).
The calculated equity effect of the debt conversion was booked in the group accounts at the time of implementing the restructuring 28.02.2017 and the sale will cause minor equity adjustments. The sale will have immaterial effect on company result and no immediate liquidity effect.
The Board of Directors has resolved capital increase as follows:
The share capital of Havila Shipping ASA increases with NOK 3,196,178 from NOK 18,907,622 by issuing of 3,196,178 to NOK new shares each with a par value of NOK 1,00 settled through conversion of debt. Total number of shares will when the capital increase is registered in Register of Business Enterprises be 22,103,800.
The new shares will rank equal with existing shares from being registered and issued. The capital increase and related changes to the articles of association will be registered with the Register of Business Enterprises as soon as possible.
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.